The stock market has been extremely volatile the last two days, with a consistent morning buildup and an afternoon drop. The volatility I believe reflects strongly the mixed economic data and investor confidence that pervades the market on pretty much every level.
On the one hand, you have quite a few deals on the back burner, with the auto industry in a state of flux, Barclay's still working on ABN, and KKR and perhaps other private equity firms looking to join the fray after Blackstone's IPO.
Going against is the huge drop in Blackstone's price (BX), decrease in housing market expectations, continued worries about the subprime market caused by Bear's two hedge funds busting, and a decrease in the consumer confidence index.
The market will rest heavily on what the Fed has to say this week.
Tuesday, June 26, 2007
Market Thoughts
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment